To link to the entire object, paste this link in email, IM or documentTo embed the entire object, paste this HTML in websiteTo link to this page, paste this link in email, IM or documentTo embed this page, paste this HTML in website

Laws of the State of North Carolina, passed by the General Assembly [1844-1845]

36 CANALS. 1844-45
not have been subscribed, then the subscriptions taken shall
be void and the said books closed. And whenever it shall
be found, from comparison of said books, that the said sum
of seventy five thousand dollars has been subscribed, then it
shall and may be lawful for the commissioners aforesaid, or
a majority of them, to call a general meeting of the subscri-bers,
their executors, administrators and assigns, to be held
in the town^of Wilmington, on such a day as they may de-signate,
fifteen days' notice of such meetitjg being ^iven in
some paper or papers published in the towns of Wilmington
and Fayetteville.
Subscribers Sec. II. ^71(1 be it furlhcT enacted, That when the
to bo a
gj^^^j g^^j^ of seventy five thousand dollars shall be subscri-body
cor-
_
•'
porate. bed in manner aforesaid, the subscribers, their executors,
administrators and assigns shall be, and they are hereby
declared to be, a body corporate, by the name and style of
"The Cape Fear and Lumber River Canal Company;" and
in that name may sue and be sued, plead and be impleaded;
and may have perpetual succession, and a common seal; and
may possess and exercise all the rights, powers, privileges
and immunities which belong to a body corporate in law;
and may make all such rules, regulations and bye laws, not
inconsistent with the constitution of the United States and
of this State, as may be deemed necessary and expedient for
managing the affairs of the company.
Concern- ®^^- ^^^' ^^ ^^ further enacted, That at the general
jng general meeting above mentioned, if a majority of the whole num-dection
of '^^^ of shares subscribed for shall not be represented, it shall
officers. be lawful for the commissioners for the town of Wilmington
aforesaid to adjourn said meeting from day to diay, until
said majority shall be represented, either in person or by
proxy; and wdien a majority of the whole number of shares
subscribed for shall be represented at said meeting, either in
person or by proxy, it shall and may be lawful for said sub-scribers
to elect a President and seven Directors, a Treas-urer
and Secretary, who shall continue in office until the
next annual meeting, and until their successors are appoin-ted:
and in electing tiieir officers, each share s'lall be entitled
to one vote. The President, and any four of the Directors

36 CANALS. 1844-45
not have been subscribed, then the subscriptions taken shall
be void and the said books closed. And whenever it shall
be found, from comparison of said books, that the said sum
of seventy five thousand dollars has been subscribed, then it
shall and may be lawful for the commissioners aforesaid, or
a majority of them, to call a general meeting of the subscri-bers,
their executors, administrators and assigns, to be held
in the town^of Wilmington, on such a day as they may de-signate,
fifteen days' notice of such meetitjg being ^iven in
some paper or papers published in the towns of Wilmington
and Fayetteville.
Subscribers Sec. II. ^71(1 be it furlhcT enacted, That when the
to bo a
gj^^^j g^^j^ of seventy five thousand dollars shall be subscri-body
cor-
_
•'
porate. bed in manner aforesaid, the subscribers, their executors,
administrators and assigns shall be, and they are hereby
declared to be, a body corporate, by the name and style of
"The Cape Fear and Lumber River Canal Company;" and
in that name may sue and be sued, plead and be impleaded;
and may have perpetual succession, and a common seal; and
may possess and exercise all the rights, powers, privileges
and immunities which belong to a body corporate in law;
and may make all such rules, regulations and bye laws, not
inconsistent with the constitution of the United States and
of this State, as may be deemed necessary and expedient for
managing the affairs of the company.
Concern- ®^^- ^^^' ^^ ^^ further enacted, That at the general
jng general meeting above mentioned, if a majority of the whole num-dection
of '^^^ of shares subscribed for shall not be represented, it shall
officers. be lawful for the commissioners for the town of Wilmington
aforesaid to adjourn said meeting from day to diay, until
said majority shall be represented, either in person or by
proxy; and wdien a majority of the whole number of shares
subscribed for shall be represented at said meeting, either in
person or by proxy, it shall and may be lawful for said sub-scribers
to elect a President and seven Directors, a Treas-urer
and Secretary, who shall continue in office until the
next annual meeting, and until their successors are appoin-ted:
and in electing tiieir officers, each share s'lall be entitled
to one vote. The President, and any four of the Directors